Recently Renovated Duplex Cash Flow Generating Property in Hamilton:
Main Highlights:
- Listed Price: $899,000
- Property Type: Renovated Brick Bungalow in Hamilton – Huntington
- Description: This legal duplex offers a spacious 3-bedroom unit on the upper floor and a 2-bedroom unit in the basement, perfect for generating rental income or accommodating extended family.
- Interior Features: The home boasts new laminate flooring throughout, modernized washrooms, and a kitchen updated with sleek quartz countertops.
- Basement Details: The finished basement includes a second kitchen and a separate entrance, providing complete privacy and independence for both units.
- Distinctive Features: Each unit has its separate living areas, kitchens, bathrooms, and HVAC systems, ensuring comfort and convenience. Charming California shutters enhance the aesthetic appeal and functionality.
- Ideal For: Whether you’re an investor looking for a property with dual-income potential or a homeowner seeking a rental opportunity, this property is a rare find.
- Location: Situated in a well-established, convenient neighbourhood, this recently renovated home offers a prime location for any potential buyer.
Key Facts:
- Annual Tax: $5,000 (2023)
- Property Type: Detached Bungalow
- Size: 1,177 square feet
- Lot Dimensions: 40 x 110 feet
- Parking: Includes 1 garage with a total of 5 parking spaces
- Basement: Fully finished with a separate entrance, ideal for a rental unit or additional living space
Our Take – Why do we think this is a good deal?
This is a duplex house with two different units which makes this property highly attractive for high-income potential. Moreover, it is recently renovated a bungalow therefore no worries for maintenance costs. Numbers are given below –Â Â
How much it will cost you to buy this property?
Considering you buying this property at the listing price, you would need around 192K to close this property. Below is the breakdown –Â
| Buying Price | 899,000 |
| Down Payment (20%) | 179,800 |
| Closing fees (Approx) | 12,439 |
| Total Funds required at closing | 192,239 |
How much it will cost you monthly to hold this property?
If the mortgage interest rate is around 5% and the amortization period is 25 you would need only to pay around 4204 monthly as a mortgage payment to hold this property. Below is the breakdown –Â
| Mortgage Payment | 4,204 |
| Property Taxes (Approx) | 417 |
| Condo fee | 0 |
| Total monthly cost | 4,621 |
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